Breather, workspace provider startup, raised $20 million in Series B round of funding led by Peter Thiel’s Valar Ventures along with New York’s RRE Ventures, Ireland-based SOSV, San Franciso’s Slow Ventures and Real Ventures out of Toronto and Montreal.
Founded in 2012, the startup Breather lists private rooms or offices for rent on an hourly basis. With around 50 locations in Manhattan listed on its website, company offers space leased and vetted spaces leased by third parties, through a profit-sharing agreement in the vein of Airbnb. It also partners with boutique hotels, commercial property owners and small businesses in revenue-sharing agreements, employing in-house location designers to create on-demand Brether spaces. After adding Montreal in 2013, it added Ottawa last October to its list. Now, it has more than 95 locations in five cities.
“We’re excited to have Valar involved. We’re building a killer team and are moving quickly to build the biggest network of spaces for all who need it,” said Breather CEO and co-founder Julien Smith. “We’ve received amazing support and feedback from our members — entrepreneurs, professionals, creatives, freelancers, and some of the most innovative and fastest growing companies in the world. The way people work and meet is obviously changing, and we want to give them the flexibility, convenience and privacy they need.”
With the fresh funds, Breather plans to increase its network of on-demand spaces in these cities, as the company expands to new markets in Canada and internationally that includes Los Angeles, Chicago, Washington, Toronto and London.
With this round of funding announcement – the largest to date in the on-demand private space category – Breather has now raised $28.5 million which is more than any other company in its space.